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A definitive agreement to acquire Mailhot Industries, a Novacap portfolio company based in Quebec, Canada, has been announced by Wipro Hydraulics, the hydraulic cylinder and components manufacturing division of Wipro Infrastructure Engineering. The acquisition is subject to customary closing conditions, including regulatory approvals.
Since its founding in 1956, Mailhot Industries has grown to become one of North America’s top producers of hydraulic cylinders. Mailhot Industries, which specialises in the market for snow removal equipment and trash trucks, is well-known for the dependability of its products in demanding work settings. Included in the transaction is JARP Industries, a Mailhot Industries company known for its proficiency in manufacturing bespoke hydraulic and remanufactured cylinders for a range of industries including mining, oil and gas, utilities, and defence.
With over a million hydraulic cylinders supplied to OEMs worldwide, Wipro Hydraulics is one of the biggest independent hydraulic cylinder manufacturers in the world, according to Pratik Kumar, CEO of Wipro Infrastructure Engineering (WIN) and Managing Director of Wipro Enterprises. We see this purchase as a critical step in strengthening our position in the industry by incorporating new technology and broadening our worldwide reach. This calculated action will bolster our leadership position in the North American market and enhance our capabilities.
“The knowledge and standing of Mailhot in the North American Hydraulic Cylinder market coupled with Wipro’s internationally acclaimed leadership in manufacturing and technology will expand Mailhot’s offerings in North America and open new international markets for current products,” stated Charles Massicotte, President of Mailhot Industries. We are certain that Mailhot will strengthen its position as the industry leader in North America and grow even more as a result of its partnership with Wipro in the hydraulic cylinder business. We are happy to be a member of a firm with such international recognition; Mailhot is facing a bright future.
“With this acquisition of Mailhot, we will expand to Canada, the US, and Mexico, as well as penetrate new segments like refuse trucks, snow removal equipment, defence, and remanufacturing in North America,” stated Sitaram Ganeshan, President of Wipro Hydraulics. Additionally, it enables us to strengthen our positions in already-established markets like mining and utilities, better serving our clients. Together, we’ll be more visible and able to provide our clients with a greater range of goods and innovations.
“It has been an honour to be part of this incredible growth journey with the entire management team,” stated Michel Toutant, Senior Partner at Novacap. In order to support Mailhot’s next stage of expansion and increase its market share in North America, Wipro is the ideal partner. I’m excited to watch Mailhot thrive going ahead under Wipro’s leadership.
Group Media Publication
Construction, Infrastructure and Mining
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